No secret banks big and small are cutting back on lending. For 2010 the credit crunch will be even tighter for commercial real estate projects. This comes as bad news and possibly the worst time for commercial developers who will likely in 2010 experience the exact same foreclosure crisis faced by homeowners nationwide.
What can be done to jump start commercial projects or say to find funding? Forget about building banking relationships that ship has sailed. What commercial developers will need to do is attract private equity funding.
This is why commercial real estate developers will need PR, public relations the most in 2010. They are going to have to prove that they have a market and demand for their developments. So paid advertising will not work this time around.
Communications will be the secret success weapon for commercial real estate. Those who learn how to engage, attract, and build credibility will survive. You know all those great aspects of using good PR.
Like some help with developing a PR campaign for a commercial real estate project? Please email me in confidence at email@example.com .